In pre-revolutionary Rostov-on-Don, several families of the Paramonovs lived. The most well-known among them were the families of Yelpidafor Trofimovich Paramonov and Ivan Trofimovich Paramonov, sons of a Cossack merchant from the village of Nizhne-Chirskaya. Both brothers moved to Rostov-on-Don and engaged in trade, soon becoming wealthy individuals. The business of the younger brother, Yelpidafor, proved particularly successful, and today all architectural monuments of the Paramonovs are associated with his name.

However, this time we will talk about the surviving income house owned by the sons of Ivan Paramonov: Alexander, Ivan, and Fyodor. All three brothers ran a joint business, owning a mill, although on a smaller scale than Yelpidafor's. They were very close and in 1903 built a two-story income house in the classical style. Until 1920, they lived in this house with their families, while renting out the remaining apartments. The house was located on Nikolskaya Street, now known as Socialist Street.

After the Bolsheviks came to power, the house was confiscated, and later two more floors were added to it. This, along with a careless attitude towards historical heritage, led to the building becoming dilapidated, with cracks appearing on its facade. In 2017, there was a partial collapse, followed by a small fire. The future of the former income house of the Paramonovs remains uncertain, but local residents, who value the heritage of the Paramonovs and the history of the city, intend to fight for its preservation.