Yes, but "a stone's throw" is not only the distance that you can throw a stone.
It's used to mean "not too far," as Jerry states, but that is relative. It doesn't have to be the literal distance.
"A stone's throw" can be somewhere in the same city, maybe miles away, or even in another city. On the world stage, we could even say that to us on the other side of the world, Afghanistan is a stone's throw away from Iraq.