His family had been unable to contact him and he had not been at work, New South Wales police said on Thursday.
Detective Superintendent Jodi Radmore said it was likely some kind of incident had occurred at the Paddington address before the disappearance.
“Witnesses talked about some shouting on Monday earlier in the morning,” she told reporters.
“But it wasn’t reported to police at the time . . . it was only reported to police [on Wednesday].”
Early investigations indicated signs of a struggle with furniture moved around in the home, Radmore said.
Blood found at the property also indicated someone had suffered a significant wound.
A worker had contacted authorities after finding items “that appeared to be unusual” while putting rubbish into a bin at Cronulla, she said.
Police later located a phone, credit cards, a wallet and a set of keys inside the skip.
Two cars have also been seized from the Paddington property.
Both men are described as being of European appearance, with brown hair and brown eyes. Davies is 170cm-175cm tall with a medium build, while Baird is 180cm-185cm tall with a muscular build.
It is not known what either man was wearing at the time of their disappearances.
Photos from both men’s social media accounts show them together at a Pink concert in Sydney during the previous week.
One snap of the pair taken at the lighthouse at Palm Beach earlier in February reads: “Perfect start to a long weekend”.
Radmore said one of the men was still using social media on Tuesday evening.
“If Jesse’s seeing this, we’d ask him to contact us, as well as anyone that might know the whereabouts of Jesse,” she said.
