Built in the mid-nineteenth century, Monks House is believed to be the oldest house in King's Cove.

The Monks family were not the original owners but lived there for more than fifty years, from approximately 1880 until 1930. The house's best known occupant, Kenneth Monks, built the the clock on its exterior, which is the building's best known feature. Monks was a well-known craftsman and watchmaker who built an addition onto the home and used it as a store.

Monks also made significant additions to the religious carvings and inscriptions at the local Anglican church. The Newfoundland Museum has featured many of his works over the years and researchers, such as Gerald Pocius of Memorial University's Folklore Department and Walter Peddle of the Newfoundland Museum, have documented Monks' contributions to Newfoundland's material heritage.

The Heritage Foundation of Newfoundland and Labrador declared Monks House a Registered Heritage Structure in April 1990. This structure was also awarded the Southcott Award for heritage restoration by the Newfoundland Historic Trust.