Loyal doesn't force you to target same alignment, if I'm understanding the modifier correctly. It just means the kill will fail on town. So, as stated, however many Mafia would be balanced in a setup without this.
If you mean the CLMV has to take out a teammate each night, and if it's otherwise vanilla:
If Town is allowed to no lynch, and if the CLMV can't self target, a M:M+1 setup will have an EV of at worst 1/3 - town no lynches, and one of each alignment dies until it's down to the CLMV and two townies. I don't think they can do better by lynching; for example, lynching successfully is less than 1/2 and only gives an EV of 1/2 (1:3 is effectively nightless), vs. losing immediately on a mislynch.
M:M+2 would be at worst 50, and progressively more townsided as you go.
If CLMV *can* self target, EV is 1 unless Mafia start out outnumbering town, and 0 otherwise. If town can't no lynch, it might be slightly more interesting, but not much. Best balance is probably at M:M+2 in that case. (Especially if the CLMV is replaced if it dies; if it isn't, town might hit it with a lynch and make things a likely very scumsided Vanilla from that point, so I'm less sure on balance there.)
What you'd need to have any hope of it being interesting is to pair it with a Compulsive Loyal Town Vig. That would at least give the chance of townies dying faster at night, though with some weirdness around Mafia not wanting to kill the Vig (and thus Vig not wanting to out himself) coupled with failed Vig kills being effectively investigations.
[DISCUSSION] Compulsive Loyal Mafia Vig
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