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.
shelty shelta sheltie shalt shield chelate shallot shelled chalot chield chalet shaled should challot cheloid shauled shawled shilled shoaled shooled
melty shelty knelt faulty melt milty fealty felt lealty vaulty velleity sleety platy silty dealt celt delta relet welt reality shelta nullity fluty malty salty helot kilty kelt quality gleety jolty slaty guilty zloty gelt relit delt realty duality polity wieldy pelt jollity belt
shelly shell shul shily shill shiel sheol sheila shaly sheal shallow shall shaley shale chelae chela shyly