I'd be interested in knowing what circumstances would seem appropriate for you to draw your gun? I see more likelihood I'd need mine to defend my home....if you dont see yourself using it while carrying...why carry?Maybe you are like the instructor who taught the CCW class I took. He said he practices drawing his gun for 30-40 minutes a day in front of a mirror, and his wife is cool with it. Mine would divorce me. But let's assume you can pull a gun fast. Guess what - so can he. When you start your pull, he'll start his. Maybe you are faster, but you are still trading shots at 6 feet within a second of each other. Maybe you kill him. Maybe he kills you. And as the OP understands, he may have friends behind you.
You don't have the drop on him. You are already in the hole, trying to get back out with a gun. But you have set yourself up where the most likely outcome is shooting at close range. If one of his bullets nicks your femoral artery, you'll die on your parents driveway. Way to go!
You do have the drop on him. If he thought you were packing, he wouldnt have chosen you and if he had, he'd have his drawn. As you move around your car or towards, cover, you should be able to beat him with a reasonable amount of training (altho I cannot define 'reasonable for each person).
Now lets assume you are Bill Jordan, and you pulled so fast the BG who didn't pull on you had no chance to do so. You order him to the ground. Maybe he runs off - let him. Shooting a guy in the back would be really stupid...but if you don't, he may be back in 2 minutes with a shotgun and friends. Maybe he complies. If you are me, and in a neighborhood near me where this scenario could plausibly play out, you are a middle-aged white guy with a Mexican lying at your feet in a Mexican-dominated neighborhood. Let's just say you are a LONG way from getting out of your hole! Four Mexicans drive by and see a white guy pointing a gun at a Mexican lying at his feet...does this sound like we are about to have a happy ending? And me with my 5-shot J-frame! Guess I should have bought a Glock...
Or now you will continue to be targeted by the gang as a soft-target. No way....I'm not going to assume it's gang-related, at least not where I live.
Now, lets assume you don't pull a gun first. Maybe he walks off. That is a non-zero probability. If he really was planning on robbing or killing you, he would have pulled the gun, not flashed it.
Then why did he just approach you at all? And show the gun? I'm having trouble thinking up any good reason.
Some other options...to delay or gain distance. Toss him your wallet. Then move to put the car between you as you draw. Now you trade shots, but part of you is covered by the car. Or after tossing him your wallet, run perpendicular to him across the yard. I've never practiced shooting a running target, and I'd bet neither has he. Again, if you can get to the parked cars or a tree, you can turn around and engage from cover on a guy who assumes you do NOT have a gun - since guys with guns don't run away.
I cant believe people believe that most criminals will fall for the tossed wallet anymore. No way would I bet my life on it. And while you are running and dodging bullets...he's free to go in and rob or kill your parents. You have left them defenseless.