I've taken a list of English words, and examined each of them to see what they sound like (using the PHP metaphone function). This page lists the most common metaphone codes, along with their words. You can also search for a word of your own, and see which words sound similar - and which ones rhyme, and which ones alliterate.
bloody blood baldy blotty belady blotto blot bold bled bald blued baled build bield blade bleed bloat ballad bulled bolide balled boiled belied bolled belaud bowled ballot billed bawled bailed belled bailout ballade bellied blighty bullied
bloody looed blood flood hallooed hollooed hullooed cloddy cloudy melody moldy oldy ploidy yellowwood
blooey blooie below blow blowy bolo