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.
valuate vallate valued volute valuta velate veloute violate valet volte flute vault folate vealed flutey vailed vaulty vialed vialled foliate filiate fallout fellate volt flat flued fluyt fault fluty volti flout valid voled float flyte flite failed faulty fealty flauta floaty foaled veiled violet
eluate valuate toluate late lute dilute fellate malate flutey glute flute filiate bullate galeate volute delate veloute collate elate paleate pileate plutei relate salute slatey solute chelate oleate palliate vallate elute violate alate ballute lutea gelate latte folate velate maleate gallate palate foliate galatea plate pollute ciliate slate solate dealate dilate glutei blate cholate lat