Would a two word domain name with a shared letter between the words be treated the same for SEO as the fuller name?

I found a domain name (2 words) that is not available. Then I found almost the same domain name with a slight difference, the last letter of the first word is the same of the first letter of the second word.

Ex : jamessecret.com (not available)      jamesecret.com (available) 

In terms of SEO, is it seen as the same to Google? Would search engines interpret them the same?