Old man of a no fixed address (3)
I believe the answer is:
dad
'old man' is the definition.
('dad' can be a synonym of 'old man')
'of a no fixed address' is the wordplay.
'of' says the answer is hidden in the clue.
'DAD' can be found hidden inside 'no fixed address'.
(Other definitions for dad that I've seen before include "Pop, pater" , "Old man" , "Popular father - a palindrome" , "Popular and informal father" , "Pa" .)