If $n \ge 2$ and if $A$ is a matrix with rank($A$)=1,then the minimal polynomial of $A$ is of degree $2$.
So, we see that $rank (A) =1$.So, nullity of $A \ge 1$.Now we try to find the range space of $A$.If $y \in R(A)$ then $A(x)=y$.
We see that null space of $A$ is being spanned by $n-1$ linearly independent vectors. We can extend this to a basis of $\mathbb{R}^n$.Let $x_1,...,x_n$ be the basis where $x_1,..,x_{n-1} \in ker(A)$.We see that $x_n$ must not be in ker($A$) otherwise $A$ is the zero matrix so that $A=0$.
Let $x_n$ be the vector which spans the range space Of $A$ such that $A(\sum(c_ix_i))=x_n$ where $1 \le i \le n$.So from here we can conclude that $0,(c_n)^{-1}$ are the only eigenvalues values. Hence the minimal polynomial becomes $x(x-(c_n)^{-1})$ .
Let $x_1,...,x_n$ a basis such that $(x_1,...,x_{n-1})$ is a basis of $ker A$ and $x_n$ a basis of $Im A$. We have $A(x_n)=cx_n$, $c\neq 0$ since $A\neq 0$. Write $P=X(X-c)$, $P(A)(e_i)=(A-cI)(A(x_i)=0$ if $i<n$. $P(A)(x_n)=A(A-cI)(x_n)=0$. Implies that $P(A)=0$.