Armed police swooped on the house on Spilsby Road, Scunthorpe last night after reports that a ballbearing gun had been fired at the address.
The incident came hours after news a bike had been stolen from Listys Health Club on West Common Lane, Scunthorpe, and details of the alleged thief were shared on social media.
Officers were called at 9.15pm to the address on Spilsby Road.
Nobody was hurt and the offenders left the scene.
Four people, two men, 22 and 34, and two women, 23 and 32, have been arrested on suspicion of firearm offences and are in custody.
The 32-year-old occupant was arrested by officers on suspicion of the theft of a pedal cycle and is also being held.