One vanishing point is typically used for roads, railroad tracks, or buildings viewed so that the front is directly facing the viewer. Any objects that are made up of lines either directly parallel with the viewer's line of sight or directly perpendicular (the railroad slats) can be represented with one-point perspective.

One-point perspective exists when the painting plate (also known as the picture plane) is parallel to two axes of a rectilinear (or Cartesian) scene ’Äî a scene which is composed entirely of linear elements that intersect only at right angles. If one axis is parallel with the picture plane, then all elements are either parallel to the painting plate (either horizontally or vertically) or perpendicular to it. All elements that are parallel to the painting plate are drawn as parallel lines. All elements that are perpendicular to the painting plate converge at a single point (a vanishing point) on the horizon.
more: http://en.wikipedia.org/wiki/Perspective_(graphical)

The following images I created using Photoshop to explore one-point perspective.