It is a matter for physics. If the water weight gain into the hull from the hole/s exceeded the submerged and displaced volume of water of the immersed ship, than she would sink. Anything less than no and a floating condition. Slightly positive buoyancy would be normal for wooden ships. What sunk "ships of the line" was the ballast and cargo below. Usually ballast was stone or iron in some later ships and the cargo was dry or wet goods in barrels. Most of which floated. The guns were heavy and the guns generally fell about on the gin decks or out of the ship if she rolled hard for any reason. Most other ships were fishing vessels and the hold of fish would be slightly negative buoyancy and salt was typically in abundance.