At the beginning of the last century, the Cossack merchant family of Paramonovs was the wealthiest in the Don region. Nikolai Yelpidiforovich, the youngest son of Yelpidifor Trofimovich Paramonov, continued his father's business and successfully increased the family fortune. He became a major owner of coal mines in the city of Alexandrovsk-Grushevsky, which allowed him to turn his attention to Rostov.

In the early 20th century, a two-story brick income house of Nikolai Paramonov appeared near the Rostov embankment. Built in a merchant style, it was distinguished by simplicity and exquisite taste. This building was not the only property of the Paramonovs in the area; nearby were another house, well-known warehouses, and a mill. There were also apartments for rent, and Nikolai, being a generous man, often helped those in need. However, after the revolution, all his property, including this house, was confiscated.

Fortunately, this income house avoided the fate of many other Paramonov buildings and has been preserved. Today, it is included in the list of cultural heritage sites of regional significance and continues to amaze with its beauty.