The Town, led by youth team coach Inigo Idiakez, picked up their second point of the EFL Central League campaign, following last Tuesday's goalless draw with AFC Wimbledon at The Brache.
With Frankie Musonda wearing the captain's armband at centre-half, the Hatters were relatively comfortable in an even first half that produced few chances for either side.
The hosts took the lead in the 61st minute, however, when Cameron Hargreaves pounced on a loose pass out of the Town defence, burst into the right side of the area and slotted across the onrushing goalkeeper James Holden.
It stayed that way until right at the death, when Jarvis registered with a move straight off the training ground; a low free-kick from the right side of the penalty box fizzed across to the penalty spot where the ex-Basingstoke youngster ran onto it and sidefooted it into the roof of the net with the aid of a slight deflection.
TOWN: Holden, Jones (Trialist 73), Greco, James, Musonda (c), Beckwith (Peck 71), Richardson, Read, Neufville, Tomlinson, Jarvis.
Scorer: Jarvis 90