Two men allegedly broke into a flat with the weapons in Northumbria Close before forcing a man who was inside to hand over £400 and a gold bracelet.
They are believed to have fled the scene in a red car.
Officers were called to the address just after 12.30am on Thursday (April 15) and are now investigating.
Detective Sergeant Jamie Moore, of Nottinghamshire Police, said: "Burglary, and particularly what has been reported here, is frightening for those who experience it and we understand the impact that such actions, and the breach of privacy in a person's own home, can have.
"We would ask anyone who saw the incident, has any information, or has any dashcam footage from the area to get in touch."
Anyone with information is urged to contact police on 101, quoting incident 12 of April 15.