I would go for it. Talk to the immediate neighbors where the deer might also likely run to make sure you could retrieve it and so that they know what you're up to and your hunt doesnt get interupted by law enforcement when they place an intruder call, etc. Chances many of the neighbors view the deer as a nuisance and others are logical enough to realize you're not going to eradicate all of "their pets," though you will run into the occassional environmental goofball with lots of dough.
In terms of a bow not being as lethal a weapon as a rifle in dropping power, I beg to differ. I've had deer drop instantly with a well-placed heart shot and all but a few have dropped within 50-100 yard of where I placed the arrow through them. I've also witnessed deer plugged with a high-powered rifle in the wrong spot go missing. In one instance, I was hunting within 150 yards of my neighbors house in the woods and the doe collapsed right in front of his shed.
He was cool with that, though and helped me drag her back to our house.
My home hunting grounds are a cross between suburb, farmland, woods and a lake. What I've found is that most of September and October it's a futile effort to hunt all day. The hour after first light and a couple of hours before sundown when things are quieter is the time to hunt. But that late October through November, anytime is the time to be out there in the suburbs.