Acoustic metamaterial attains uncommon material properties over natural material such as negative effective mass density, negative effective bulk modulus, or both. To start with, the present research demonstrates and establishes robust method to estimate and measure acoustic metamaterial properties of a Helmholtz resonator analytically using transfer matrix (TM) method and experimentally in detail. The proposed method extracts the reflection and transmission coefficients from corresponding TM to evaluate the effective acoustic metamaterial properties. For a single Helmholtz resonator, the effective bulk modulus has been observed negative; however, the effective density remains positive. In order to attain double negative material properties, the perforated panel (PP) and microperforated panel (MPP) have been introduced in parallel to resonator. The 1D electro-acoustic modeling has been carried out for all configurations to estimate effective properties analytically. Successively, the experiments have been conducted to measure the effective properties from acoustic metamaterial prospective. The analytical and experimental investigations on five different cases reveal that one can attain negative effective compressibility and effective density by cascading two PPs or MPPs with a finite duct. Moreover, by backing a Helmholtz resonator from both sides with two PPs or MPPs in parallel, one can attain double negative properties comparatively higher than earlier configuration in low-frequency zone in broadband. In total, eight different configurations have been investigated analytically and experimentally, where it has been demonstrated that the proposed compact model is more effective than a finite array of same Helmholtz resonators. [ABSTRACT FROM AUTHOR]