I stumbled across 'Murder Party' last night on Netflix and thought it looked worth a watch. It was apparent pretty early on that this was filmed with a very low budget (the trivia section claims it was made with "no money"). The actors were unrecognisable, the sets were reasonably basic and there were not going to be any special effects at any point in the film clearly. None of that means it can't be a good film however. Hell, look at Kevin Smith's 'Clerks' for proof.
The director of 'Murder Party' has gone on to make some very well received horror/thriller films, so it very cool to see where he, Jeremy Saulnier, got his start. There are some elements to the film that would indicate there was class behind the camera. A lot of the dialogue is quite intriguing and surprisingly well written (a must for a low-budget film). Also considering the budget the horror scenes that feature later in the film were very well created. The film is short at only 80 minutes and even then feels like it could have shaved 15-20 minutes off. The pacing in the first half of the film is a slight issue. Also I wouldn't have minded seeing a more creative ending. All in all though this is a watchable enough film if you stumble across it on Netflix late one night.