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.
builds bields balds bolds bloods bleeds blades ballads belauds bullets billets baldies bolides bulldoze ballades bailouts blats blets blots bolts belts bloats bleats blites bluets ballots blights boletes boletus ballets balatas ballutes beladies bloodies
builds guilds wilds gilds silds milds hilts pleiads velds glads salads lidos collides melds fluids guilts allods elds kilts halids caulds lids meloids holds solids welds glides hyaloids shields childes cheloids woalds toluids folds loids keloids gelds lilts lads fields quilts silts slides dildos halides moulds plaids colloids balds phylloids naleds bields sloids ballads faulds milts colds ceilidhs bolides plods gilts haloids clods elides iliads tilts molds sleds bolds gleds golds olds jilts felids solidus clads toluides tildes wealds wields wilts wolds chields chiliads sialids yields
build built bailed bailout bield billed billet boiled bullate bulled bullet bullied ability