We consider the remote source coding setting in which a source realization is estimated from a lossy compressed sequence of noisy observations. Unlike in the optimal remote source coding problem, however, the encoder is bound to use good codes with respect to the observation sequence, i.e., codes that are optimal for the lossy reconstruction of the observation, rather than the remote source. This encoding strategy is denoted as the compress-and-estimate (CE) scheme. For the case of an i.i.d source observed through a memoryless channel, we show that the distortion in the CE scheme is characterized by a single-letter expression, referred to as the CE distortion-rate function (CE-DRF). In particular, we show that the CE-DRF can be attained by estimating the source from the output of a remote encoder employing any sequence of good codes with respect to the observation sequence. In addition, we show that the limiting distortion in estimating any finite sub-block of the source realization from the output of a remote encoder employing good codes, averaged over all sub-blocks, is also bounded by the CE-DRF.