I wouldn't consider it to be bad etiquette IF:
* You're not breaking the posted road speed limit.
* Watch not only for cars backing out but for kids.
* Watch for dogs.
In small neighborhoods like this it's also not a bad idea to stay out in the lane and not hug the curb. This gives you much more time if a car or child comes hurtling out into the road and you're not going to be slowing down a following car very much.
Edit: include the warning to watch for dogs. This is pretty important.