That is perfectly fine. I know two children who are named the same but with one letter as a difference. (Example: David, Adavid)
If you had two girls, one Isabell and the other Isabella, that is a bit too similar with only a letter difference. Try to name your children with different sounding names (also do this with pets, otherwise it can confuse them!)
My friends names are Taylor (girl) and Tyler (boy). Sometimes those are misheard.
Naming twins with similar names (Dan/Don, Tim/Tom, Jim/Kim, Jean/John) does have a slight risk. Schools and other official agencies may see the same birthdate and assume that one is a duplicate of the other. Or a simple typo may mean that documents are issued for one twin that are intended for the other.
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